Annamaria Lusardi, Denit Trust Distinguished Scholar in Economics and Accountancy, had a bleak message for a U.S. Senate subcommittee last week: Americans are woefully unprepared for making decisions about money.
Lusardi, who is academic director of GWSB’s Global Financial Literacy Excellence Center (G-FLEC), testified on April 24 at the U.S. Senate’s Health, Education, Labor and Pension Committee’s Subcommittee on Children and Families’ hearing on “The Economic Importance of Financial Literacy Education For Students.”
“I am here today to tell you that the vast majority of Americans do not have the financial knowledge they need to fully participate in the economy or to make informed decisions about their own financial futures,” said Lusardi, an advocate of teaching school children about personal finances.
“This reality has implications for their lives and for the economic health of the country,” she said.
You can follow Lusardi on Twitter.
For more on the hearing, go here.
Meanwhile, the Center’s spring Financial Literacy Seminar Series (FLSS) continued with a May 2 presentation by Jing Cai, assistant professor of economics at the University of Michigan, on “Social Networks and the Decision to Insure.”
The FLSS is a joint initiative of the Federal Reserve Board (FRB) and the G-FLEC, formerly the Global Center for Financial Literacy. For more information on the series, and links to papers, go here.
For questions, contact the Center at firstname.lastname@example.org.
Posted by gwsb on May 7, 2013 | Filed under: GWSB News.